Trump Announces Broadcom Returning Company Headquarters Back to US

President Donald Trump announced Thursday that a Fortune 100 company will be returning its headquarters to the U.S.

Broadcom Limited, a semiconductor company that has been based in Singapore, is expected to legally relocate to Delaware pending approval from shareholders, The Detroit News reported Thursday.

The move, which will return roughly $20 billion in annual revenue to the U.S., comes more than two years after the company incorporated in Singapore, moving its headquarters from California for tax reasons.

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Trump made the announcement in a White House address alongside Broadcom Limited CEO Hock E. Tan and several of the company’s employees.

“My administration is working everyday to make the United States the most attractive place in the world to do business,” Trump said.

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The news came on the same day he touted the tax cuts in his tax plan, calling it a “great day for the American worker.”

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Tan agreed, asserting the timing is now right for his company to move back to the U.S.

“America is once again the best place to lead a business with a global footprint,” Tan said.

In addition to commenting on the nation’s economic improvements, reports indicate the two men also shared a joke about their own accomplishments.

CEO of Broadcom says his mother could never imagine that he would be in Oval Office with president. “Mine too!” Trump jokes